Filing Flows › Norfolk Southern (NSC) › Operating margin
Norfolk Southern (NSC) operating margin by quarter
Norfolk Southern's operating margin was 32.6% in Q3 2026 (third quarter 2026), +0.2 pts from Q2 2026. Over the last 7 quarters it ranged from 29.3% (Q1 2026) to 38.3% (Q1 2025).
| Quarter | Operating margin | Q/Q | Y/Y |
|---|---|---|---|
| Q3 2026 | 32.6% | +0.2 pts | -2.8 pts |
| Q2 2026 | 32.4% | +3.2 pts | -5.3 pts |
| Q1 2026 | 29.3% | -2.3 pts | -9.0 pts |
| Q4 2025 | 31.5% | -3.9 pts | — |
| Q3 2025 | 35.4% | -2.4 pts | — |
| Q2 2025 | 37.8% | -0.5 pts | — |
| Q1 2025 | 38.3% | — | — |
Q3 2026 at a glance
Norfolk Southern, Q3 2026: revenue $3.5B (+14% year over year), operating margin 32.6%, net earnings $759M, operating cash flow $1.3B. The chart follows the revenue to costs, profit and cash.
Questions
What is Norfolk Southern's operating margin?
Norfolk Southern's operating margin was 32.6% in Q3 2026 (third quarter 2026), +0.2 pts from Q2 2026.
How has Norfolk Southern's operating margin changed?
Over the last 7 quarters it ranged from 29.3% (Q1 2026) to 38.3% (Q1 2025).